Power Generation Market Research Reports & Consulting

Electricity consumption can be considered to be a key indicator of a country’s growth. Electricity can be generated either by conventional or nonconventional sources. The major source of electricity generation in the short term would be from conventional sources and it accounted for nearly 75% of the total electricity generation in 2015.

There has been increase in the electricity generation through nonconventional sources. As per REN21 (Renewable Energy Policy Network for the 21st Century), in 2015, approximately 25% of the electricity generation was from renewable energy. Decreasing costs, continued research in technology improvements has made these energy sources viable. Moreover, the renewable energy is considered as the only alternative for conventional fossil fuel-based energy generation.

We have offered deep-rooted perspectives in this space covering the length and breadth in the renewable energy spectrum, with topics ranging from solar and wind energy to energy storage technologies and fuel cells.

Electricity consumption can be considered to be a key indicator of a country’s growth. Electricity can be generated either by conventional or nonconventional sources. The major source of electricity generation in the short term would be from conventional sources and it accounte
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The gas turbine services market is projected to grow at a CAGR of 4.1% from 2016 to 2021 to reach a market of USD 18.45 Billion by 2021. The growth is attributed to the up gradation of aging fleet of gas turbines, stringent emission norms for gas turbines and increase in demand of gas turbines owing to the shale gas production boom.

The global cable and accessories market is estimated to be valued at USD 147.53 Billion in 2016, and is projected to grow at a CAGR of 6.5% from 2016 to 2021, to reach USD 202.07 Billion by 2021. Market growth is driven by factors such as growing focus towards renewable energy generation and continuing industrialization & urbanization.

The lighting as a service market is expected to grow from an estimated USD 95.3 Million in 2016 to USD 638.68 Million by 2021, registering a CAGR of 46.3% from 2016 to 2021. The global market is witnessing significant growth on account of the increase in demand for energy efficient lighting systems, and government policies supporting adoption of energy efficient lighting systems over traditional lighting. Increasing convergence of Internet of Things (IoT) with lighting is also expected to drive the demand for the lighting as a service market across the globe.

The global temporary power market is estimated to reach USD 3.86 Billion in 2016, and is projected to grow at a CAGR of 10.6% from 2016 to 2021, to reach USD 6.40 Billion by 2021. Market growth is driven by factors such as the growing demand for power, aging grid infrastructure, and lack of access to electricity, and increasing construction and infrastructural activities across the globe.

The size of the global nuclear decommissioning services market is estimated to be USD 4.84 Billion in 2016, and is projected to grow at a CAGR of 12.1% from 2016 to 2021, to reach USD 8.55 Billion by 2021. Nuclear accidents, such as the Fukushima Daichii nuclear power plant accident in 2011, and rising political pressure for pre-closure of nuclear power plants, especially in the European countries, are expected to drive the nuclear decommissioning services market.

The gas engines market is expected to grow from an estimated USD 3.22 Billion in 2016 to USD 4.54 Billion by 2021, registering a CAGR of 6.9% from 2016 to 2021. The global market is witnessing significant growth on account of the decline in natural gas prices, increase in electricity demand, and low emission levels of the gas compared to other fossil fuels. Increasing investments in distributed power generation are also expected to drive the demand for gas engines across the globe.

The global field-erected cooling towers market is estimated to be USD 1.71 Billion in 2016. The market is projected to grow at a CAGR of 4.3% from 2016 to 2021. Field-erected cooling towers are of three types, namely, wet, dry, and hybrid field-erected cooling towers. The market is segmented on the basis of end-user industry and type of cooling towers. On the basis of the end-user industry, the market has been divided into power generation, petrochemicals and oil & gas, iron & steel and metallurgy, paper mills, and others.

The power plant boiler market is expected to grow at a CAGR of 4.1% from 2016 to 2021. It is projected to reach USD 24.40 Billion by 2021 from an estimated value of USD 19.96 Billion in 2016. Developing countries are going through urbanization and industrialization which has led to increase in power demand. To keep up with the growing demand, governments are investing in the construction of new power plants and are upgrading the existing power plants.

The power rental market earns its revenue by renting generators, load banks, and pumps among others or from selling electricity generated from a temporary power plant. Factors such as increasing global electricity demand, especially in emerging economies such as Asia-Pacific and Africa, lack of power infrastructure, and extensive construction & development work in developing countries are the major reasons for large contracts and agreements taking place in the power rental market.

The generator sales market is expected to grow at a CAGR of 5.85% from 2015 to 2020. It is projected to reach USD 23.36 Billion by 2020 from an estimated value of USD 17.59 Billion in 2015. The generator sales market is driven by growing demand for uninterrupted and reliable power supply across the globe. Countries are regularly facing blackouts, rolling blackouts, or brownouts, which further affect industries and commercial establishments. These industries and commercial establishments require steady power supply to function smoothly. In addition, steady power is required in the healthcare sector for life support equipment. Power outages or voltage drops are witnessed due to outdated electrical infrastructure, weather phenomenon, maintenance, or other reasons. In such situations, generators provide assurance of steady power to such sectors.

The synchronous condenser market is expected to grow at a moderate growth rate of 2.4% from 2015 to 2020. It is projected to reach USD 532.6 Million by 2020. The growth of synchronous condenser market is attributed to the large influx of power from renewable sources into the transmission and distribution grid. Existing and planned upgradation and expansion of High-Voltage Direct Current (HVDC) network across the globe in various regions is expected to increase demand for power factor correction equipment such as synchronous condensers. Developed countries are expanding their power grid network to accommodate power generated through renewable and conventional sources. With rising contribution of renewable energy in the grid, power factor correction becomes unavoidable to stabilize the grid and for voltage regulation.

The global bag filter market is projected to grow at a CAGR of 5.8% from 2015 to 2020, to reach a value of USD 12.12 Billion by 2020. The growth is attributed to stringent regulations imposed by governments to reduce air pollution along with the growth in the cement & mining industry, especially in Asia-Pacific countries such as China and India.

The global gas turbines market is projected to grow at a CAGR of 3.9% from 2015 to 2020, to reach a value of USD 19.6 Billion by 2020. Increasing availability of natural gas owing to the shale gas boom and higher efficiency & lower carbon emission characteristics of natural gas-fired power plants are the major factors driving the gas turbines market.

The diesel generator, a combination of diesel engine with electrical generator, is a reliable power supply device. It is used for generating electricity to provide continuous power supply during power interruptions. It is mostly used as a standby device during power outages or at places with no connection to a power grid. Factors driving the diesel generators market include increasing need for uninterrupted & reliable power supply and increasing number of power outages. The diesel generators market is expected to grow from an estimated USD 13.06 Billion in 2015 to USD 16.96 Billion by 2020, at a CAGR of 5.4% from 2015 to 2020.

Factors driving the steam turbines market include increase in electricity consumption and demand from emerging economies, and the consequent capacity expansions carried out by utilities in the region, particularly thermal power capacity. The global steam turbines market size was estimated to be around USD 14.8 Billion in 2014, at USD 19,292 Million by 2020 and is expected to grow at a CAGR of 4.4% during the forecast period. The steam turbines market is segmented on the basis of its type, application, rated capacity, exhaust type, and region.

Frequency converter is used in varied end-use industries depending on the frequency requirement of the equipment connected to the converter. The end-users of frequency converters, considered for study include aerospace & defense, power & energy, oil & gas, traction, process industry, marine/offshore, research & testing laboratories, and grid interconnections among others. Differences in electrical standards of mains electricity supply worldwide, international trading, and an increase in the demand for energy-efficient frequency converters are driving the market. The global frequency converter market is projected to reach USD 23.2 Billion by 2020, from an around USD 15.0 Billion in 2015, at a CAGR of 9.1% from 2015 to 2020.

There is an increasing demand for electricity is the large markets such as China, India, and Brazil, globally. Transfer switch are used for providing back-up power solutions for various critical industries such as healthcare, telecommunication, IT, datacenters, and among others. Factors including fluctuating whether conditions, industry applications, infrastructural developments, need for uninterrupted and reliable power are expected to drive the global transfer switch market. The market is expected to reach $1,470.9 Million by 2020, at a CAGR of 6.6% from 2015 to 2020.

Generator circuit-breakers are connected between a generator and the step-up voltage transformer. They are generally used at the outlet of high power generators (100MVA to 1800MVA) in order to protect them in a reliable, fast, and cost-effective manner. These circuit breakers allow the passage of high permanent currents under continuous service (6.3kA to 40kA), and have a high breaking capacity (63kA to 275kA). They belong to the medium voltage range. The drivers of the generator circuit breakers market are entirely influenced by the power transmission and generation industry. Growth in the related as well as complementary markets, such as switchgear and transformer, also contribute towards the growth of generator circuit breakers. The generator circuit breakers market size is estimated to reach $302.30 Million by 2019 from $267.58 Million in 2014.

The Middle East and Africa power rental market size is estimated to reach $9,048.25 million by 2019 from $3,942.07 million in 2014. The major factors responsible for driving the growth of this market include the increasing demand of power in the respective regions. The Middle East market remains the largest market for power rental. Widespread construction and developmental activities are driving growth of the power rental market. The permanent power producers’ inability to meet the power demand especially during extremely hot weather conditions, are considered as opportunities for the Middle East and Africa power rental market. Rising imports of low cost Chinese generators and upcoming power generation projects through renewable sources such as solar, wind and biomass energy in the Middle East and Africa can limit the growth of power rental market in the region.

February 2015

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